Riverstone Energy Nets USD87.5 Million After Centennial Resource Sale (ALLISS)

6th Mar 2018 09:58

LONDON (Alliance News) - Resources investor Riverstone Energy Ltd said Tuesday it sold 22% of its unrealised investment in Nasdaq-listed Centennial Resource Development Inc in an underwritten public offering.

The sale of the 4.4 million shares was worth approximately USD87.5 million based on Centennial's closing price of USD20.06 per share on Tuesday.

This comes, Riverstone said, after it sold 4.3 million Centennial shares in November last year for USD86.7 million.

The selling stockholders, the investment firm said, have also granted underwriters a 30-day option to buy up to 3.8 million further shares of Class A common stock. If exercised, this would result in Riverstone selling up to an extra 654,348 shares.

Riverstone's holding in Centennial is now 15.2 million shares at a gross unrealised value of USD305 million based on Centennial's share price at Monday's Nasdaq close.

Riverstone shares were flat Tuesday in London at 1,188.00 pence each.

---

Related Shares:

Riverstone Energy